189 Buffalo St · Hamburg, NY 14075

$315,000

3 bd · 2.0 ba · 2,981 sqft · MultiFamily · 149 Days on market

Built 1940 Fair condition 6,370 sqft lot $106/sqft · 47% below area Est $591k · 47% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• Schools +6.1/10.0
• Livability +4.2/5.0
• Rent growth +3.8/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Prime Mixed-Use Investment Opportunity in the Village of Hamburg. This well positioned mixed-use property features two commercial units and one residential apartment, offering a strong blend of income and stability. The first-floor commercial spaces are currently occupied by a dog grooming business and a retail boutique, both benefiting from excellent street visibility and consistent local traffic. The upper unit consists of a residential apartment, providing additional steady rental income.

Key facts

• Retail boutique
• Commercial units
• Mixed-use property

Tags

• MIXED-USE PROPERTY
• COMMERCIAL UNITS
• RESIDENTIAL APARTMENT
• FIRST-FLOOR COMMERCIAL SPACES
• DOG GROOMING BUSINESS
• RETAIL BOUTIQUE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $315k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $827 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $315k).
• Recommended offer: $277k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.9% in Hamburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#43 in NY, #692 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: commute F.
• Hamburg Central School District (suburban): math 46% / reading 66% proficiency, ranked #267 of 590 in NY (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Zoned schools: Union Pleasant Avenue Elementary School (math 23% / reading 57%, grade F, #1,415 of 2,108 statewide, top 67%, 643 students, 23% FRL); Hamburg Middle School (math 31% / reading 63%, grade D+, #315 of 729 statewide, top 45%, 755 students, 24% FRL); Hamburg High School (math 94% / reading 97%, grade A+, #76 of 1,100 statewide, top 7%, 987 students, 19% FRL).
• Market conditions: Rents rising fast (+5.2%/yr); 487 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,244 units permitted in Erie County in 2024 (563 in 5+ unit buildings).
• At $3,802/mo this rent would consume 55% of the median local household income ($83k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $88k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $277,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.21% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.25%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $591,300
• List price: $315,000
• Delta: -46.73%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
75 Maple Ave	0.16mi	3/3.0	2,718 (-9%)	0mo	$430,000	$158	74
251 Pleasant Ave	0.57mi	2/2.0 (-1)	2,813 (-6%)	2mo	$350,000	$124	57
41 Maple Ave	0.10mi	4/2.5 (+1)	2,379 (-20%)	12mo	$450,000	$189	53
4154 Ridgefield	1.30mi	4/2.5 (+1)	2,992 (+0%)	11mo	$725,000	$242	48
6385 Boston State Rd #13	0.83mi	3/3.0	3,223 (+8%)	4mo	$735,000	$228	44
87 Newton Rd	0.55mi	4/2.5 (+1)	2,258 (-24%)	1mo	$390,000	$173	42
189 Euclid Ave	0.52mi	4/2.0 (+1)	2,300 (-23%)	7mo	$338,000	$147	40
358 Brookwood Dr	1.48mi	3/2.0	2,241 (-25%)	3mo	$350,000	$156	38
228 Long Ave	0.71mi	4/2.5 (+1)	2,596 (-13%)	4mo	$565,000	$218	35
6755 Willow Ridge Dr	1.17mi	4/2.5 (+1)	2,694 (-10%)	9mo	$690,000	$256	34
191 Long Ave	0.63mi	4/1.5 (+1)	2,444 (-18%)	8mo	$325,000	$133	32
55 Therin Dr	0.78mi	3/2.5	2,550 (-14%)	9mo	$550,000	$216	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.21% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.12×
• Total profit: $10,306
• Equity at exit: $46,968

10-year hold

• IRR: 14.5%
• Equity multiple: 2.29×
• Total profit: $114,102
• Equity at exit: $27,235

Cash invested: $88,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 0 active · 1 under contract
• Months of supply: 0.0 mo

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 14075

• Rents YoY: 5.2%
• Active inventory: 487
• Price-to-rent: 20.7×

Monthly cashflow live

• Estimated rent: $3,802 medium
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $827

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,801
Total (3 units)			$3,802

Break-even live

Break-even rent $2,756

Max offer price $315,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,044	-5% $936	+0% $827	+5% $718	+10% $609
Rent	-10% $526	-5% $677	+0% $827	+5% $977	+10% $1,127
Rate	-1.0pp $985	-0.5pp $907	base $827	+0.5pp $745	+1.0pp $662

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $78,750
• Closing costs: $9,450
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Euclid Ave Hamburg, NY	1.0	1.0	3047	$900	$0.30	67d	1	0.34mi
35 W Crescent Ave Unit A Hamburg, NY	2.0	2.0	1420	$2,650	$1.87	58d	1	0.58mi
67 Huron St Unit 2 Hamburg, NY	2.0	1.0	1100	$1,475	$1.34	110d	1	1.00mi
5546 Scranton Rd Hamburg, NY	2.0	1.0	799	$1,250	$1.56	0d	3	1.25mi
5570 Camp Rd Hamburg, NY	2.0	1.0	812	$1,355	$1.67	0d	1	1.26mi
4055 Knoll Dr Hamburg, NY	2.0	1.0	776	$1,315	$1.69	0d	4	1.49mi

Property features AI

Finance

• Financial info: Operating expenses include waterTwo rental units with current actual rent of $900 each

Exterior

• Parking: Two or more parking spaces
• Utilities: Water available and public water sourceOwner pays water; water included in rentSeparate gas meters (2) and separate electric meters (3)
• Home design: 2-story buildingResale property
• Construction: Block and concrete construction
• Exterior features: Near public transitRectangular lot

Interior

• Kitchen: Each unit includes an oven/range and refrigeratorEat-in kitchen in one unit
• Bedrooms: Two 1-bedroom units (each unit listed as 1 bedroom)
• Flooring: TileVinylVaries by area
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas heating with forced air and radiatorsProperty has heating
• Interior features: Tile, vinyl, and varied flooring throughoutCrawl space basement
• Laundry & utility: Gas water heater

Listing history 50 events

1. 2026-09-23
   days on market $315,000 Active 149 DOM
2. 2026-09-22
   days on market $315,000 Active 148 DOM
3. 2026-09-21
   days on market $315,000 Active 147 DOM
4. 2026-09-20
   days on market $315,000 Active 146 DOM
5. 2026-09-19
   days on market $315,000 Active 145 DOM
6. 2026-09-18
   days on market $315,000 Active 144 DOM
7. 2026-09-17
   days on market $315,000 Active 143 DOM
8. 2026-09-16
   days on market $315,000 Active 142 DOM
9. 2026-09-15
   days on market $315,000 Active 141 DOM
10. 2026-09-14
    days on market $315,000 Active 140 DOM
11. 2026-09-13
    days on market $315,000 Active 139 DOM
12. 2026-09-12
    days on market $315,000 Active 138 DOM
13. 2026-09-11
    days on market $315,000 Active 137 DOM
14. 2026-09-05
    days on market $315,000 Active 131 DOM
15. 2026-09-04
    days on market $315,000 Active 130 DOM
16. 2026-09-03
    days on market $315,000 Active 129 DOM
17. 2026-08-31
    days on market $315,000 Active 126 DOM
18. 2026-08-29
    days on market $315,000 Active 124 DOM
19. 2026-08-28
    days on market $315,000 Active 123 DOM
20. 2026-08-27
    days on market $315,000 Active 122 DOM
21. 2026-08-26
    days on market $315,000 Active 121 DOM
22. 2026-08-25
    days on market $315,000 Active 120 DOM
23. 2026-08-24
    days on market $315,000 Active 119 DOM
24. 2026-08-23
    days on market $315,000 Active 118 DOM
25. 2026-08-22
    days on market $315,000 Active 117 DOM
26. 2026-08-21
    days on market $315,000 Active 116 DOM
27. 2026-08-20
    days on market $315,000 Active 115 DOM
28. 2026-08-19
    days on market $315,000 Active 114 DOM
29. 2026-08-18
    days on market $315,000 Active 113 DOM
30. 2026-08-17
    days on market $315,000 Active 112 DOM
31. 2026-08-16
    days on market $315,000 Active 111 DOM
32. 2026-08-15
    days on market $315,000 Active 110 DOM
33. 2026-08-14
    days on market $315,000 Active 109 DOM
34. 2026-08-13
    days on market $315,000 Active 108 DOM
35. 2026-08-12
    days on market $315,000 Active 107 DOM
36. 2026-08-11
    days on market $315,000 Active 106 DOM
37. 2026-08-10
    days on market $315,000 Active 105 DOM
38. 2026-08-09
    days on market $315,000 Active 104 DOM
39. 2026-08-08
    days on market $315,000 Active 103 DOM
40. 2026-08-07
    days on market $315,000 Active 102 DOM
41. 2026-08-06
    days on market $315,000 Active 101 DOM
42. 2026-08-05
    days on market $315,000 Active 100 DOM
43. 2026-08-04
    days on market $315,000 Active 99 DOM
44. 2026-08-03
    days on market $315,000 Active 98 DOM
45. 2026-07-31
    days on market $315,000 Active 95 DOM
46. 2026-07-30
    days on market $315,000 Active 93 DOM
47. 2026-07-28
    days on market $315,000 Active 92 DOM
48. 2026-07-26
    days on market $315,000 Active 90 DOM
49. 2026-07-24
    days on market $315,000 Active 88 DOM
50. 2026-07-23
    days on market $315,000 Active 87 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $45,624
• − Mortgage interest: −$17,645
• − Property taxes: −$4,725
• − Insurance: −$1,575
• − Repairs & maintenance: −$3,650
• − Management: −$3,650
• − Depreciation: −$9,164
• Taxable income: $5,216
• Est. tax owed @ 24.0%: −$1,252
• After-tax cash flow: $8,668/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $74,525–$134,145 screening

This multi-family property requires moderate repairs and maintenance, including roof and exterior siding repairs, as well as landscaping improvements. These updates will significantly enhance its resale and rental value.

Repairs flagged

• Major roof — Signs of wear
• Major exterior siding — Weathered and faded
• Major landscaping — Overgrown and needs trimming

Value-add opportunities

• Both paint exterior — Fresh paint enhances curb appeal and property value ↑
• Both trim landscaping — Neat landscaping improves curb appeal and property value ↑
• Both repair roof — A new roof will increase the property's value and reduce maintenance costs ↑
• Both repair exterior siding — Fresh siding will improve the property's appearance and increase its value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 61/100

Zoned Schools

Elementary Union Pleasant Avenue Elementary School F NY #1,415/2,108 Nat'l #19,354/41,679 Middle Hamburg Middle School D+ NY #315/729 Nat'l #4,159/14,009 High Hamburg High School A+ NY #76/1,100 Nat'l #108/17,239

Schools (NCES district)

• District: Hamburg Central School District
• NCES district ID: 3613350
• Math proficiency: 46% ▼ -26.00%
• Reading proficiency: 66% ▲ 3.00%
• Median HH income: $68,342
• Composite: 49.43/100
• National rank: #2006
• State rank: #267 of 590 in NY

A Composite livability gradescore 84/100

Livability — Hamburg

• Score: 84/100
• State rank: #43
• US rank: #692

Category grades

Amenities B Commute F Cost of living B- Crime C Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamburg, NY
• County: Erie County · 933,037 people
• City population: 44,520
• Metro: Buffalo-Cheektowaga, NY
• Population (ZIP): 44,520
• Household income: $83,383
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 13% of renters

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Population outlook (Erie County) Hauer SSP2

• Today (2025): 933,037 people
• By 2030: 935,181 · +0.2%
• By 2040: 928,531 · -0.5%
• By 2050: 905,725 · -2.9%
• By 2075: 834,037 · -10.6%
• By 2100: 708,033 · -24.1%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 20% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

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Political lean MEDSL · Erie

• 2024 margin: Lean D (+9.7) · D 54.8% · R 45.2%
• 2008→2024 swing: -7.9pp toward R · 2008: 17.5pp · 2024: 9.7pp
• All cycles: 2024: D+9.7 2020: D+14.7 2016: D+4.8 2012: D+15.6 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -261.10%
• Current HPI: 300.2852
• Rent YoY: ▲ 5.21%
• Metro: Buffalo-Cheektowaga, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

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Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Property features AI

Finance

• Financial info: Operating expenses include waterTwo rental units with current actual rent of $900 each

Exterior

• Parking: Two or more parking spaces
• Utilities: Water available and public water sourceOwner pays water; water included in rentSeparate gas meters (2) and separate electric meters (3)
• Home design: 2-story buildingResale property
• Construction: Block and concrete construction
• Exterior features: Near public transitRectangular lot

Interior

• Kitchen: Each unit includes an oven/range and refrigeratorEat-in kitchen in one unit
• Bedrooms: Two 1-bedroom units (each unit listed as 1 bedroom)
• Flooring: TileVinylVaries by area
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Gas heating with forced air and radiatorsProperty has heating
• Interior features: Tile, vinyl, and varied flooring throughoutCrawl space basement
• Laundry & utility: Gas water heater

Price history

+142.5% since first listed

6 events — show timeline

• 2026-04-27 Relisted — WNYREIS
• 2026-04-25 Listing Removed — WNYREIS
• 2026-04-23 Listing Removed — WNYREIS
• 2026-04-23 Listing Removed — WNYREIS
• 2026-04-22 Listed $315,000 WNYREIS
• 2013-04-01 Listed $129,900 WNYREIS